Govt to further increase petrol price by Rs. 30: Reports

The Pakistan Muslim League Nawaz (PML-N) led federal government announced a massive increase of 30 rupees in the price of petrol, putting an end to the months long subsidy given by the Pakistan Tehreek-E-Insaf (PTI) government.

Finance Minister Miftah Ismail announced the increase in petrol prices during a press conference. Following the increase in prices, the new price of petrol is Rs. 179.86  while the price of diesel has increased to 174.15 per litre. Furthermore, the price of kerosine oil has increase to 155.56 while a litre of light diesel costs 148.31 rupees per litre.

Now, as per media reports, the government is considering another hike in the petrol prices to meet International Monetary Fund (IMF)’s conditions. Reports state that if the government keeps the subsidy at the same level, they will be incurring a loss of PKR 120 billion.

There are different speculations about the next increase in the prices of petroleum products. According to experts, petrol prices can be further increased by up to 20 rupees. Senator Mustafa Nawaz Khokhar in a tweet revealed that the petrol prices are expected to be increased further by 30 rupees.

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